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Casino operator Wynn Macau reports loss of US$185 million in second quarter

Adjusted EBITDA was negative US$90.3 million for the second quarter, compared to a profit of US$67.6 million the previous year.

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Adjusted EBITDA was negative US$90.3 million for the second quarter, compared to a profit of US$67.6 million the previous year.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 22 Dec 2023, 4:39 am

Wynn Macau Limited has reported a loss of US$185.3 million in this year’s second quarter, the company announced today in a filing to the Hong Kong Stock Exchange. 

The quarterly figure for the three months that ended on 30 June is nearly four times the loss recorded in last year’s Q2 US$49.6 million.

However, Wynn Resorts Limited Chief Executive Officer Craig Billings remains positive about the future of the gaming industry in Macao.

He said that while Macao’s Covid-19 travel restrictions have continued to impact Wynn Resorts’ results, “We remain confident that the market will benefit from the return of visitation over time.”

Wynn Macau Ltd’s Adjusted EBITDA was a negative US$90.3 million for the second quarter, compared to a profit of US$67.6 million the previous year.

Macao’s Covid-19 outbreak which began on 18 June and took close to two months to bring under control, saw the city’s casinos shut down for part of July.

 

UPDATED: 22 Dec 2023, 4:39 am

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